Quebecor profit climbs on telecoms

Canadian cable and media company Quebecor Inc’s profit rose 21% in the second quarter on growth in its telecommunications segment.

Net income attributable to shareholders rose to $67 million, or $1.05 per share, from $55.2 million, or 85 cents per share, a year earlier.

Quebecor, which launched a wireless service in late 2010 as the fourth element of a bundled offering that includes landline telephone, Internet and cable television, said revenue rose 3.1% to $1.09 billion.

Revenue at its telecom segment rose to $651.8 million from $601.1 million a year earlier.

Adjusted income from continuing operations fell to 77 cents per basic share from 93 cents a year earlier.

Shares of Montreal-based Quebecor closed at $34.08 on Wednesday on the Toronto Stock Exchange.